Uniondale, NY - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $8,775,000 loan under the Fannie Mae DUS® product line for the 171-unit complex known as Brampton Court Apartments (top right photo) in Bellingham, WA.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.86 percent.
The loan was originated by Jon Red, (bottom left photo) Director, in Arbor’s full-service Spokane, WA lending office.
“The borrower wanted to secure a long-term, low-interest rate and minimize escrows for the property,” said Red.
“With several lenders competing for the deal, Arbor provided several options to structure the loan and it was our flexible approach that won us the business.”
Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/
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